Category Archives: Local Economy

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This past Labor Day, Paula and I did what so many Americans do over a sunny three-day weekend – we took a road trip. We had a wedding to attend in Austin and we thought we would make the most of it by dropping our kids off with the grandparents in San Antonio first. We had heard a few rumors floating around about a gas shortage following the devastation of Houston by Hurricane Harvey, but we noticed nothing unusual as we filled up the tank here in College Station and hit the road Friday evening for San Antonio. Now kid-free, we started out for Austin the following morning with half a tank of gas. We were surprised to see that the two gas stations on the corner were indeed out of gas but figured we would just stop further along the way instead. But the next station was out of gas too. And so was the next. And the next! After about an hour of this we started feeling a little panicky. If this continued on would we even be able to make it to the wedding? And what about the kids? Continue reading →

If you have had the pleasure of recently shopping for a mattress you don’t need me to tell you how overwhelming the experience is. Mattresses are difficult to test sufficiently prior to purchase and all the guarantees and warranties are confusing. But it is the shear number of options that is staggering. Do you want firm or plush? Foam or coil? Organic? Low chemical content? Well it is what is missing in this world of choices that hints at a disturbing truth embedded in our economic system. I’m excited to share with you today a post that has been percolating in the back of my brain for a few years now; a story that I simply walked into when I innocently walked into a mattress store. Continue reading →

Paula and I are both readers. Except in the case of a movie night or some other exceptions the TV doesn’t get a lot of play time in the Golbabai house. One of those exceptions however is our favorite Friday night tradition: putting the kids to bed and watching Shark Tank over a bowl of ice cream. As an economics blogger, I find the show fascinating because in just a few short minutes it is a perfect microcosm of how our modern economy thinks and rewards. Continue reading →

Over the past couple of weeks, I’ve been following with a kind of morbid fascination our American presidential race. Of particular interest to me is not so much where our two parties disagree, however, but where they in fact agree. Both parties openly acknowledge that the economy is not working as it should for everyone, and both parties have the same prescription: jobs – i.e. better employment options. On the surface, this sounds great for those of us trying to climb our own respective career ladders or for those trying to get on a career ladder in the first place. And this of course must be a winning theme, because it seems to be the primary domestic issue in every presidential election I can remember. But honestly, this mindset just doesn’t sit right with me, and not just because of the influences of Wendell Berry and Planet Money, but because of our past. Looking back at American history, the concept of economic success as our ability to be employed by others is a fairly recent phenomenon. We were once a nation of small business owners, each of us creating a unique American Dream of our own with self-employment as the cornerstone. Today we’re a nation of employees looking for jobs that provide upward mobility. So what happened? Continue reading →

In The Nicomachean Ethics, Aristotle articulates three types of friendship: friendship based on utility, friendship based on pleasure, and perfect friendship based on goodness. When it comes to the relationship between multi-national corporations and local places within the context of the global economy, I cannot help but think Aristotle’s description of friendship based on utility hits it on the head. Continue reading →

Three years ago Paula and I became first time homeowners and landlords when we purchased our central Austin duplex. Despite all the paperwork (I never knew I could sign my name so many times), it was all pretty thrilling. But looking back at it now, I can see more clearly than ever that this process, more than anything else we have done so far, helped us better secure our financial footing by giving us the ability to make payments as if we were renting, but build equity in the process. And of course, it gave us a sense of ownership and control over our own little piece of the American Dream. Continue reading →

I was preparing for work one morning when disaster struck; my trusty beard trimmer wasn’t trimming. There was plenty of strange whirring but absolutely no movement of the blades. I spent a few minutes tinkering with it but to no avail. At this point, what are my options? It seemed to me that the problem was fixable. I have a two-year-old son who is fascinated with shaving; maybe he got a hold of it and dropped it, knocking something loose. If I couldn’t fix it myself, could a repair shop handle it? What would they charge me? How would that compare with the cost of a brand new beard trimmer? But maybe the biggest question was this: do repair shops for small electronics even exist any more? Continue reading →

Quite a lot has happened in the Golbabai house since I lased posted. After months of studying, I passed my American Institute of Certified Planners (AICP) certification exam so I can now write this blog as a certified planner! A few days later, Paula and I welcomed the newest addition to our family, our beautiful baby daughter. Both Mom and baby are doing well and we’re all adjusting to this new reality of life as a family of four!

Over the past few weeks I’ve been really struck by my two children. Looking at our newborn daughter, I’m amazed at just how completely dependent we are on others when we come into the world. Continue reading →

What I loved about Northwest Hardware in Austin, Texas was the phenomenal customer service. Every time I went in, someone would talk to me in detail about my project or problem and steer me in the right direction, even if their solution was less expensive than what I was originally thinking. Sadly, we stopped by a few weeks ago only to discover that it had recently closed. The loss felt strangely close to me. After all, as a consumer I’d like to be able to shop with my values of supporting small and independent businesses that anchor the local community. Yet with the disappearance of stores that provide this option, I find myself pushed into a handful of large, consolidated big box options that lack the intimacy of a community shopping experience. Continue reading →

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By all accounts the famed basketball coach John Wooden is one of the most successful in the history of the game. He boasts an all-time winning percentage of over .800 (620-147), and won an incredible 10 national championships over a twelve year period (from 1963-1975), which included four perfect seasons (1964, 1967, 1972, and 1973) and an 88 game winning streak. Despite all his victories however, a deeper look into Coach Wooden’s philosophy reveals that winning was something he actually never talked about, as he did not believe that success should be judged by comparison with anyone else. Continue reading →